Formula One World Championship Limited and Formula One Administration Limited (together, the F1 Commercial Rights Holder) and Full Throttle Productions, LP, promoter of the Formula 1 United States Grand Prix™, announce that a historic agreement has been reached for Austin, Texas to serve as the host city of the Formula 1 United States Grand Prix™ for years 2012 through 2021.

“We are extremely honoured and proud to reach an agreement with the F1 Commercial Rights Holder. We have been diligently working together for several years to bring this great event to Austin, the State of Texas and back to the United States. All parties involved have a great amount of trust and confidence in each other and are committed to establishing the Formula 1 United States Grand Prix™ in Austin, Texas as a prestigious global event,” stated Tavo Hellmund, Managing Partner of Full Throttle Productions, LP.

Bernie Ecclestone, President and CEO of the Formula One Group stated: “For the first time in the history of Formula One in the United States, a world-class facility will be purpose-built to host the event. It was thirty years ago that the Formula 1 United States Grand Prix™ was last held on a purpose-built permanent road course circuit in Watkins Glen, NY (1961-1980), which enjoyed great success. Since then, Formula One has been hosted by Long Beach, Las Vegas, Detroit, Dallas and Phoenix all on temporary street circuits. Indianapolis joined the ranks of host cities in 2000 when they added a road course inside the famed oval. Lewis Hamilton won the last Formula 1 United States Grand Prix™ in 2007, signalling the end to eight years at Indianapolis Motor Speedway. This however, will be the first time a facility is constructed from the ground up specifically for Formula One in the US.”

Mr. Hellmund added: “This is a case of the right timing in the right place. As many Americans know, Austin has earned a reputation as one of the ‘it’ cities in the United States. Austin features that rare combination of ideal geographic location and beauty. Its fine dining, world-renowned hospitality and excellent transportation infrastructure make Austin ideally suited to host and manage an event of this magnitude. Few cities if any in America could rival the connectivity of all the key elements needed for hosting a Formula 1 event as well as Austin. Now, many people around the world will have the opportunity to experience a world-class event, facility and city.”

“We are pleased Texas has the opportunity to be involved with Formula 1 and that an event of this magnitude is coming to Austin,” said Susan Combs, Texas Comptroller of Public Accounts. “It has been a pleasure working with Full Throttle Productions, LP and Mr. Hellmund on this project. Their tradition of producing successful major events coupled with a thirty year relationship with Mr. Ecclestone has us looking forward to this worldwide event and the benefits it will bring, including local job creation, increased tourism and a significant economic impact added to our state economy. The visibility and prestige of this event will spotlight our state on an international stage.”

Texas Governor Rick Perry conveyed his enthusiasm for the project, explaining “Texas’ relatively strong economy continues to draw both national and international attention and I commend Comptroller Combs for her work in bringing this exciting event to the Lone Star State.”

City of Austin Mayor Lee Leffingwell continued the positive sentiments, adding "The City of Austin will be proud to host this magnificent event and I look forward to welcoming the participants and fans of Formula One to our City."

Full Throttle Productions, LP acknowledges with great appreciation the efforts of all parties involved including Bernie Ecclestone, President and CEO of the Formula One Group, and the local and state officials of Texas.

“It has been a shared vision and monumental task to reach this agreement. We realize that over the last 30 years there have been one or two missing pieces from the previous editions of the Formula 1 United States Grand Prix™. We have a tremendous opportunity at hand to do it right - to feature Austin as the backdrop and produce the Formula 1 United States Grand Prix™ as one of the great sporting events in the world,” stated Hellmund.

In addition to the State of Texas being the 11th strongest economy in the world, it has more Fortune 500 company headquarters than any other state. Key features of Austin include:
- State capital nicknamed ‘Silicon Hills’ for being one of the most important regions in the US for the Technology Industry;
- USA’s 15th largest city and is located 145 miles from Houston (4th largest US city), 70 miles from San Antonio (7th largest US city), and 180 miles from Dallas (8th largest US city), population in this triangle is over 22 million;
- perfectly located geographically for North, South and Central American visitors;
- over 130 daily departing international flights within 180 miles;
- over 250,000 hotel rooms within 180 miles;
- desirable year-round climate, with an average annual temperature of 68 degrees Fahrenheit (20 Celsius);
- geographically located in the Texas Hill Country, easily the most beautiful city in the State, and considered one of the most in the US;
- hotels/downtown/Formula 1 circuit/airport located within close proximity of each other, which is nearly impossible for any other large city in the US;
- world class night life entertainment along renowned ‘Sixth Street’; and
- large film industry presence - many movies filmed in the area.

Austin’s National Recognition
- Known as “The Live Music Capital of the World”
- Voted “Greenest City in America” (MSN)
- Voted “Least Stressful Large Metro” in the United States (Forbes)
- Voted Top Two “Best Cities” in the United States (Money Magazine)
- Voted Top Three “Hippest Cities” in the United States (Forbes)
- Voted Top Five “Safest Cities” in the United States (Forbes)
- Voted Top Ten “Sports & Fitness Cities” in the USA (Sports Business Journal)

Full Throttle Productions, LP is an Austin, Texas, special event and sports production company that provides event conception, event project management, day of event oversight, staffing and volunteer services, venue planning and logistics support._________________

again...you do understand the distinction, right? there's been no formula 1 in cali for 27 years.

as far as all that good flat dirt being put to good use, we'll see. there's no track, no land purchased as far as i can tell, no track design...nothing, and supposedly we're going to have a race in 2012? i don't see it happening, at least not the way that article is putting it out there.

i'm heavily involved w/ the chamber of commerce and the svp of economic development (the group who brought this here) was hinting about this last week. i need to corner him and ask him what's the true scoop.

jt09, They will probably close streets and race on them like they did here in Houston for a while._________________There'll be two dates on your tombstone/ And all your friends will read 'em/ But all that's gonna matter is that little dash between 'em...

jt09, They will probably close streets and race on them like they did here in Houston for a while.

i wish! sadly, it's apparently going to go out west of the airport where all that flat dirt that was mentioned above is, which takes all the beauty out of the destination. no skyline, no hill country, none of the things that make austin desirable to visit.

the traffic situation here is the single biggest political and business issue facing austin and central texas. austin just lost a huge expansion deal that would have added 600 permanent jobs (on top of all the construction/contracting to build the new facility) because the employees would have had to relocate/commute from sw austin to north austin (i'm guessing the company was amd, but that's just my guess). our transportation infrastructure is anything but excellent.

i'm assuming that because they are planning it out west of town that they are referring to the new 130 toll road. still it costs an arm and a leg to take it and that's only n/s. e/w is still served by 71, and that's going to be a freaking nightmare.

again...you do understand the distinction, right? there's been no formula 1 in cali for 27 years.

as far as all that good flat dirt being put to good use, we'll see. there's no track, no land purchased as far as i can tell, no track design...nothing, and supposedly we're going to have a race in 2012? i don't see it happening, at least not the way that article is putting it out there.

i'm heavily involved w/ the chamber of commerce and the svp of economic development (the group who brought this here) was hinting about this last week. i need to corner him and ask him what's the true scoop.

Well there is someone here that has an abundance of low tolerance plant and installation equipment and experience regarding NASCAR/Seca spec track work.... Eh-hem!

i'm heavily involved w/ the chamber of commerce and the svp of economic development (the group who brought this here) was hinting about this last week. i need to corner him and ask him what's the true scoop.

jt09, They will probably close streets and race on them like they did here in Houston for a while.

read the article

“For the first time in the history of Formula One in the United States, a world-class facility will be purpose-built to host the event. It was thirty years ago that the Formula 1 United States Grand Prix™ was last held on a purpose-built permanent road course circuit in Watkins Glen, NY (1961-1980), which enjoyed great success. Since then, Formula One has been hosted by Long Beach, Las Vegas, Detroit, Dallas and Phoenix all on temporary street circuits. Indianapolis joined the ranks of host cities in 2000 when they added a road course inside the famed oval. Lewis Hamilton won the last Formula 1 United States Grand Prix™ in 2007, signalling the end to eight years at Indianapolis Motor Speedway. This however, will be the first time a facility is constructed from the ground up specifically for Formula One in the US.”_________________

STANG KILLA SS, formula 1 didn't just make that decision out of thin air, but i agree, that article is a bit odd. trust me, the chamber had plenty to do w/ bringing that project in. we have one of the strongest chambers in the nation and things like this don't just show up because some bigwig at f1 pulled austin out of his butt as a place he wanted to make a track and have a race.

Hellmund also said the project is much further along than has been assumed.

“This has been long in the works,” he told AutoWeek. “Everything is in place.”

Although the former racer told local media on Tuesday that three possible venues were still under consideration, that suggestion was apparently a smokescreen.

While several alternatives were under consideration, Hellmund said one site was settled on some time ago and the land--more than 800 acres--has already been purchased. Additionally, initial permissions for amenities such as water and waste, which are usually time consuming affairs, have already been granted.

Although Hellmund has yet to divulge details, he said that the site is to east of Austin, a few miles from the airport, apparently in hilly countryside that has provided Tilke with a good starting point for a design.

The German architect is charged with creating a fast circuit with challenging corners that resemble those of classic, established tracks such as Silverstone and Spa-Francorchamps.

Tilke first sent a representative of his company to Austin around two years ago and has allegedly made many personal visits since. He is looking for office space in the city from which to base the project.

Hellmund was adamant that Austin is an ideal location.

“Other than New York or L.A., which already have 10 million people, where are you going to find a place that within a 150-mile radius you have three of the top 10 largest markets in the United States? That is the wonderful thing. Our position between Canada and the United States, North, South and Central America, is unbelievable.

“You take that into account, you take into account the draw that Austin is, it’s the state capital, it’s in the hill country, it’s got a huge, huge vibe and tag of being the coolest place.”

As reported previously, the race is set to benefit from the Texas Major Events Trust Fund, which is intended to reimburse cities for costs they face when hosting big sporting events.

However, that relates only to specific events and does not have an impact on the cost of building the facility, budgeted at $200 million. The track project is financed by unknown private investors, Hellmund said.

One of the key elements that helped generate funding is that, aside from F1, the circuit will be used to help develop alternative fuels.

Tavo said he has known F1 boss Bernie Ecclestone since he was a teenager. His father was involved in promoting Indy-car and Trans Am races in Mexico City, and also helped to bring F1 back to the country in 1988. Hellmund’s father was also involved in the 1986 World Cup of soccer and in organizing music events.

That's a stretched summary of Tilke. Not only are his tracks not comparable to Silverstone, but Silverstone selected an upcoming company called Populous for future Silverstone upgrades after stating they didn't want Tilke "wrecking" the renowned track.

If any of you have heard of or visited Populous' Autodrome in Dubai, it's simply amazing. If exempting the history, scenery and festivities of many aged European tracks, Autodome is the best track, period. I had the opportunity to drive the course on a track night and had a ball. The downside is, well, it's no Italy, or even Austin for that matter.

"The mystery man behind the deal to bring the Grand Prix to Austin is Tavo Hellmund, a race-car driver and managing partner of a mostly unknown marketing company called Full Throttle Productions. The Austinite raced in Europe as part of the British Vauxhall and Formula 3 series, including nabbing a third place at Snetterton, England in 1995. He's also old friends of Ecclestone."

"People we spoke with said Tavo was the main driving force behind the move, somehow jumping from producing NASCAR Grand National short-track event to producing an event for the biggest car-racing series in the world, one that involves a purpose-built racing facility that will cost upwards of $250 million. The key to Hellmund's victory over New York appears to be a mixture of yet-unnamed private backers and total acquiescence from all levels of government, something F1 couldn't get in New Jersey. Texas's governor, the state comptroller, and the mayor of Austin were all enthusiastically on board."

it will be interesting to see if this ever comes to fruition. i'm hopeful, but skeptical. especially by 2012. they basically have 24 months to build a world class facility, and have a race. it's got to happen by august 2012, because you aren't having a major event in the fall in austin - ut football and acl pretty much dominate the calendar.

That entire facility can be installed in less than a year. A lot of equipment, material and people. Construction can go as fast as you want it to go. There is a happy medium which will be exceeded and therefor increase costs, but it's far from impossible.

IF everything is already in place TODAY. and it doesn't look like it is. track isn't even designed or approved yet. also looks like they still need investors. and transportation infrastructure - good luck getting THAT done in 2 years!

and just going off of this year's f1 schedule and assuming they are going to put the usgp together w/ the gp du canada in montreal, that is 24 months on the dot.

again, i'm skeptical. formula 1 has a history of making big announcements and never delivering. i want this to happen - it would/will be AWESOME for this city/state - i just have my doubts on something so big being put together so quickly.

I am a huge F1-fan, and follow the the circus very closely. Went to Barcelona's GP last year and I can advice you all to go if you get the chance.
Happy to see F1 return to the US, and I hope you guys over there show some interest so that Bernie and co don't decide to pull it again.
The track will be designed by Tilke, and that is kind of a bad sign.. His tracks (most modern tracks) are commonly known to be pretty boring, but hey...we'll see._________________WB.com will never be the same... You will never be forgotten Leggester.
http://www.myspace.com/mauiwake

looks like things are moving ahead nicely. i'm still cautiously optimistic, but less cautious and more optimistic right now.

Quote:

Red McCombs named investor in Austin Formula One project
By John Maher | Tuesday, July 27, 2010, 09:48 AM

Red McCombs’ investment group is the main backer to Tavo Hellmund’s U.S. Grand Prix project in Southeast Austin. McCombs Partners’ involvement was announced Tuesday morning at the AT&T Conference Center, not far from the McCombs School of Business on the University of Texas campus.

McCombs, a wealthy San Antonio car dealer, previously was an owner of the San Antonio Spurs NBA basketball team and the NFL’s Minnesota Vikings. Hellmund’s group, Full Throttle Productions, is slated to stage an F1 race for 10 years, beginning in 2012. The state of Texas has pledged $25 million annually in support for the event.

“Nothing happens until somebody does something,” McCombs said during the announcement. “And people are what made this happen.”

Oganizers of the proposed Austin Formula One auto race announced that the track will be on about 900 acres near Elroy in southeastern Travis County.

You cannot post new topics in this forumYou cannot reply to topics in this forumYou cannot edit your posts in this forumYou cannot delete your posts in this forumYou cannot vote in polls in this forumYou cannot attach files in this forumYou can download files in this forum